Malaga Cove Capital LLC Purchases 500 Shares of ConocoPhillips (NYSE:COP)

Malaga Cove Capital LLC boosted its position in ConocoPhillips (NYSE:COP) by 16.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,589 shares of the energy producer’s stock after buying an additional 500 shares during the quarter. Malaga Cove Capital LLC’s holdings in ConocoPhillips were worth $378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Values First Advisors Inc. bought a new position in shares of ConocoPhillips during the 3rd quarter valued at $26,000. Stephens Consulting LLC boosted its position in ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after buying an additional 104 shares during the period. Reston Wealth Management LLC bought a new position in shares of ConocoPhillips during the third quarter valued at about $31,000. Y.D. More Investments Ltd purchased a new position in shares of ConocoPhillips in the second quarter worth about $35,000. Finally, Fairway Wealth LLC lifted its stake in shares of ConocoPhillips by 95.6% in the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock valued at $36,000 after acquiring an additional 153 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Up 4.0 %

Shares of ConocoPhillips stock opened at $113.60 on Thursday. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The firm has a market cap of $130.74 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 0.89 and a beta of 1.21. The company has a 50-day moving average of $107.81 and a 200 day moving average of $112.53. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same period last year, the business earned $2.16 earnings per share. The business’s revenue was down 8.5% on a year-over-year basis. As a group, sell-side analysts anticipate that ConocoPhillips will post 7.79 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 37.10%.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on COP. Truist Financial reduced their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. BMO Capital Markets raised their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Finally, StockNews.com cut ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $137.47.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.